The data from the Labor Department revealed on Thursday the number of applications for unemployment decreased last week but exceeded economists’ forecast, as the U.S. labor market is trying to recover from its biggest shock in history, caused by the COVID-19 pandemic. 

According to the report, the initial claims for unemployment benefits totaled 860,000 for the week ended September 12. That was the third straight week with claims below 1 million.

Economists had expected 850,000 new claims last week.

Claims for the prior week were revised upwardly to 893,000 from the initial estimate of 884,000.

Meanwhile, the four-week moving average of claims fell to 912,000 from an upwardly revised 973,000 in the previous week.

Continuing claims decreased to 12,628,000 million from an upwardly revised 13,544,000 in the previous week.